Meaning of associated person and effective control
8 Meaning of associated person and effective control
An associated person of an applicant for registration or renewal of registration is a person who is not the applicant but nevertheless is, or would be if the registration were granted or renewed, in effective control of the applicant’s business.
An associated person of a registrant is a person who is not the registrant but nevertheless is in effective control of the registrant’s business.
A person who is in effective control of a business includes a person who—
is regularly or usually in charge of the business; or
regularly directs staff of the business in their duties; or
is in a position to control or substantially influence the business.
If an applicant for registration or renewal of registration, or a registrant, is a corporation, each executive officer of the corporation is taken to be an associated person of the applicant or registrant.
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